By State Auto Financial Announces Quota Share Agreement For Homeowners Business
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CONTACT: Larry Adeleye AVP/Director of Investor Relations W 614-917-5108 |
Kyle Anderson AVP Corporate Communication W 614-917-5497 M 614-477-5301 |
COLUMBUS, Ohio - January 4, 2012 - State Auto Financial
Corporation (NASDAQ:STFC) today announced that the State
Auto Group has entered into a quota share reinsurance
agreement with a syndicate of reinsurers covering its
homeowners book of business. The three year agreement was
effective Dec. 31, 2011. Under this quota share
arrangement, the State Auto Group will cede to the
reinsurers 75% of its unearned premiums in force at the
effective date and 75% of its net liability under policies
issued or renewed on or after the effective date and
classified by the State Auto Group as homeowners business.
The State Auto Group will retain the balance of its
homeowners book of business, with the STFC Pooled Companies
and the SAM Pooled Companies participating 65% and 35%,
respectively, in such retained business in accordance with
the previously announced pooling changes that were
effective Dec. 31, 2011.
State Auto Financial Corporation, headquartered in Columbus, Ohio, is a super regional property and casualty insurance holding company and is proud to be a Trusted Choice® company partner. STFC stock is traded on the NASDAQ Global Select Market, which represents the top third of all NASDAQ listed companies.
The insurance subsidiaries of State Auto Financial Corporation are part of the State Auto Group. The State Auto Group markets its insurance products, primarily through independent insurance agencies, in all 50 states and the District of Columbia. The State Auto Group is rated A (Excellent) by the A.M. Best Company and includes State Automobile Mutual, State Auto Property & Casualty, State Auto Ohio, State Auto Wisconsin, State Auto Florida, Milbank, Farmers Casualty, Meridian Security, Meridian Citizens Mutual, Beacon National, Beacon Lloyds, Patrons Mutual, Litchfield Mutual Fire, Rockhill Insurance, Plaza Insurance, American Compensation and Bloomington Compensation. Additional information on State Auto Financial Corporation and the State Auto Insurance Companies can be found online at .
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| distribué par | Ce noodl a été diffusé par State Auto Financial Corporation et initialement mise en ligne sur le site http://www.state-auto-ins.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-04 12:05:32 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
